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Hicks, Muse, Tate & Furst owned 59 percent of Capstar, with 355 stations in 83 markets, and was the largest single owner of Chancellor (which had 108 stations in 22 markets), with 15 percent of the stock.
Chancellor Media later became AMFM Inc., which was acquired by Clear Channel in a deal announced October 3, 1999, and valued at .4 billion.
(formerly Clear Channel Communications, Inc.), a company founded by Lowry Mays and B. "Red" Mc Combs in 1972, and later taken private by Bain Capital, LLC and Thomas H. As a result of this buyout, Clear Channel Communications, Inc.
began to operate as a wholly owned subsidiary of CC Media Holdings, Inc. specializes in radio broadcasting through division i Heart Media (sans "Inc." suffix; formerly Clear Channel Media and Entertainment, Clear Channel Radio, et al.) and subsidiary i Heart Media and Entertainment, Inc.
Lee Partners and Bain Capital Partners for .7 billion, which was just under a 10 percent premium above its closing price of .36 a share on November 16 (the deal values Clear Channel at .60 per share).
Additionally, the company leases two channels on Sirius XM Satellite Radio, and has expanded its online presence through the i Heart Radio platform. also specializes in outdoor advertising through subsidiary Clear Channel Outdoor Holdings, Inc.
The name "Clear Channel" came from AM broadcasting, referring to a channel (frequency) on which only one station transmits. S., clear-channel stations have exclusive rights to their frequencies throughout most of the continent at night, when AM signals travel far due to skywave.
On January 6, 2014, Clear Channel announced a marketing partnership with Robert F. Sillerman's SFX Entertainment (whose original incarnation was, coincidentally, sold to Clear Channel and spun off to form Live Nation), which will see the two firms collaborate on electronic dance music content for its digital and terrestrial radio outlets; including a Beatport top 20 countdown show (which will air on some of i Heart Media's major-market contemporary hit radio stations), a national talent search, and an "original live music series", which will include two concerts in the style of its Jingle Ball events around Halloween 2014.
The partnership will expand upon i Heart Media's existing EDM-oriented outlets (such as Evolution). Grattan named to the board of managers of i Heart Media Capital I, LLC, the direct parent of i Heart Communications, as well as the board of directors of i Heart Media, Inc., the indirect parent of i Heart Communications.
The company's new name is intended to reflect its growing digital business.